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PETTY CASH
Test Description: How much do you know about petty cash?
Instructions: Answer all questions to get your test result.
1) Petty Cash is
A
spending large amounts of money for personal items
B
spending large amounts of money for business items
C
spending small amounts of money for business items
D
spending small amounts of money for personal items
2) PCV stands for
A
Personal Cheque Voucher
B
Popular Colour Violet
C
Personal Cash Voucher
D
Petty Cash Voucher
3) Money used to buy stamps would be analysed as
A
POSTAGE
B
OFFICE
C
MISC
D
TRAVEL
4) The amount of money received for the petty cash float is known as the
A
start up
B
imprest
C
restored imprest
D
float
5) The amount of money received to replace the money spent is known as
A
replenishing
B
restoring the imprest
C
updating
D
cash advance
6) PCV + balance in petty cash box =
A
cash
B
imprest
C
total
D
balance outstanding
7) Money received from petty cash must be recorded on a
A
bit of paper
B
Petty cash statement
C
receipt book
D
bank book
8) Petty Cash Vouchers are usually signed by
A
all of the above
B
person receiving money
C
person issuing money
D
person authorising issue
9) Jennifer started with £50 petty cash and has vouchers totalling £18. How much cash should she have in the petty cash box?
A
£32
B
£50
C
£18
D
£12
10) John has £20 left in the petty cash box and vouchers totalling £35. How much does he need to restore the imprest?
A
£20
B
£35
C
£15
D
£55
*select an answer for all questions
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